Africa Oil Corp (AOIFF)

[douginil]

Jethro oil deposit is like a 15-story high building stretching 20 km wide – Holzman

August 14, 2019

{{ Thanks to m8magic at stockhouse }}

Fifteen stories high and over 20 km wide, full of oil. That is the description given by Gil Holzman, Chief Executive Officer and Co-founder of Eco (Atlantic) Oil and Gas – junior partner in the 1800 km2 Orinduik Block offshore Guyana – where the first discovery outside the prolific Stabroek Block was announced just days ago.

On Monday, operator at the Orinduik Block, Tullow Oil announced that evaluation of logging data confirms that Jethro-1 comprises high-quality oil-bearing sandstone reservoirs of Lower Tertiary age. The well encountered 55 metres of net oil pay which supports a recoverable oil resource estimate which exceeds Tullow’s pre-drill forecast.

“I think this is only the beginning, we can see what Exxon did on the Stabroek Block, they started with one discovery; the Liza field, 900 million barrels, and today they have over six billion barrels. Once you understand the play, it becomes easier and clearer to the professional and technical teams… to pinpoint where the oil has accumulated and target it,” said Holzman.


Read more at:
https://oilnow.gy/featured/jethro-oil-deposit-is-like-a-15-story-high-building-stretching-20-km-wide-holzman/